In a significant development aimed at combating tuberculosis (TB) and human immunodeficiency virus (HIV) in the Philippines, five local drug manufacturers have committed to producing anti-TB medicines. This move comes in response to President Ferdinand R. Marcos Jr.’s call for increased local production of drugs to address these critical health concerns. The announcement was made by the Private Sector Advisory Council (PSAC) Health Sector Group during their 5th meeting with President Marcos at Malacañang. Paolo Borromeo, the PSAC Healthcare Sector Lead and President and CEO of Ayala Healthcare Holdings, Inc., expressed pride in the collaborative effort with the Department of…
Author: PhilippinesToday
The Philippine National Police (PNP) has refuted claims by Pastor Apollo Quiboloy, leader of the Kingdom of Jesus Christ (KOJC), of a conspiracy with the United States to target him for rendition. At a press briefing on Thursday in Camp Crame, Quezon City, PNP spokesperson Col. Jean Fajardo emphasized the absence of any intelligence supporting Quiboloy’s allegations of a joint US-Philippine effort to apprehend him through rendition—a process where a fugitive is handed over by one country to another facing criminal charges. Fajardo clarified that the PNP had not been informed of any specific threats to Quiboloy’s safety. However, he…
Gogoro Philippines, the electric mobility and battery-swapping technology company, is set to expand operations across the country following its successful launch in December 2023. “We are very bullish about the potential of our scooters in this market such that we’re looking at expanding geographically in the different parts of the country, and looking forward to a Visayas and Mindanao expansion for the balance of the year,” said Bernie Llamzon, President and CEO of Gogoro Philippines. Gogoro Philippines has introduced two postpaid energy plans tailored to meet the diverse needs of its customers. Plan 799 offers a 300 ampere-hour allocation, translating…
The Philippine Stock Exchange Index (PSEi) closed higher today, marking an increase of 56.05 points, or 0.82 percent, to settle at 6,854.66. This gain comes amid mixed performances across the sectors, highlighting the market’s varied responses to the current economic conditions. The All Shares index also saw an uptick, rising by 19.09 points to close at 3,581.70, a 0.54 percent increase. Financials mirrored this positive movement, advancing by 16.46 points to end the day at 1,999.39, up by 0.83 percent. However, not all sectors shared in the day’s gains. The Industrial sector faced a downturn, shedding 78.27 points, a decrease…
Mober Technology Inc., a trailblazer in the Philippine logistics sector, has successfully closed a $2 million seed funding round, spearheaded by RT Heptagon Holdings with Rex Tiri at the helm. This investment is a significant leap forward in the company’s quest to integrate electric vehicles (EVs) into its delivery services, marking a pivotal shift towards sustainable logistics in the country. With the fresh capital, Mober has expanded its fleet of electric vehicles to 60, aiming to meet the increasing demand for environmentally friendly delivery options. This expansion is in line with a global movement towards sustainability, promising a substantial reduction…
The Figaro Coffee Group (FCG), a leading player in the Philippine food and beverage sector, reported substantial financial growth in its latest quarterly earnings, underscoring a year of robust performance despite inflationary pressures. For the quarter ending December 31, 2023, FCG announced a 42% increase in revenue to P1.45 billion compared to the same period in the previous year, along with a 7.2% rise in net income to P195 million. The company’s annual figures were equally impressive, with total revenues for 2023 soaring to P5 billion, up 55% from P3.2 billion in 2022. This increase translated to a net profit…
Globe has announced a record-breaking financial performance for 2023, achieving a consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) of PHP81.4 billion, marking a 3% increase from the previous year’s PHP79.1 billion. This growth was driven by a 3% rise in consolidated service revenue, reaching PHP162.3 billion, up from PHP158.0 billion in 2022, and was attributed to the company’s focus on mobile, corporate data, and expanding non-telco services. Ernest Cu, Globe Group’s President and CEO, highlighted the achievement as a testament to Globe’s strong financial condition and its ability to grow profitably amid intense market competition. Data revenues, constituting…
The Marcos administration is on track to meet the goals of the Philippine Development Plan 2023-2028, buoyed by the nation’s strong economic performance, particularly in reducing inflation and boosting employment in the aftermath of the COVID-19 pandemic, a senior economic official reported. Socioeconomic Planning Undersecretary Rosemarie Edillon highlighted the significant progress at a news forum in Quezon City, noting a drop in unemployment to its lowest level since 2005. “In December 2023, our unemployment rate fell to 3.1 percent, down from 4.3 percent in December 2022,” Edillon stated. She also pointed out an increase in the labor force participation rate…
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. emphasized the critical need for understanding the effects of nature on emerging economies during the International Workshop on “Nature, Macroeconomy, and Finance.” This event, which took place from January 29 to 30, 2024, at the BSP Head Office in Manila, marks a pivotal moment in integrating ecological considerations into economic and financial strategies. The workshop, a collaborative effort between the BSP, the London School of Economics and Political Science-Grantham Research Institute on Climate Change and the Environment, the World Wide Fund for Nature (WWF), and the International Network for Sustainable…
The Department of Health (DOH) reported a significant increase in fireworks-related injuries (FWRI) this season, nearly doubling from the previous year’s figures. In its final FWRI surveillance report released on Saturday, the DOH expressed concerns over potential life-threatening tetanus cases arising from these injuries. The DOH revealed a total of 609 injuries, out of which 601 were due to fireworks, one from Watusi ingestion, and seven from stray bullet incidents. Notably, there were 33 instances of blasts and burns leading to amputations, 447 without amputation, 155 eye injuries, one case of blindness, and two of hearing loss. The report highlighted…